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Axie Infinity is pushing for the growth of its play-to-earn platform with new developments. Axie Infinity is one of the largest P2E platforms, and its native token, AXS, has rallied following positive news from its development team
On May 31, AXS had rallied by double-digit gains. However, after the market recorded a slight dip, AXS followed the trend and lost most of its 24-hour gains. At the time of writing, AXS was trading at $22.50 after an 11.6% decline in 24 hours.
Axie Infinity’s Builders program
Axie Infinity is one of the largest blockchain-based games. Players can buy non-fungible tokens (NFTs) that look like Pokemon monsters in this game. These “monsters” are used to fight against each other within the game during battles.
Players get a chance to win a second token when they are playing on the platform. The earnings are made in Smooth Love Portion (SLP) tokens. Players can then exchange these tokens for real money.
On Tuesday, AXS had increased to levels last reported on May 10. Early last month, the cryptocurrency market had attempted to make a slight gain, but after the crash of Terra, the market registered a massive dip, and most tokens are yet to recover from this collapse. After the UST crash, Terra’s value dropped to around $17.
The latest price action by AXS stems from the developments happening with Sky Mavis. Sky Mavis is the development group behind the Axie Infinity game. The development team released the first batch of projects that will be onboarded on the Builders Program.
The Builders Program will integrate user-generated content within the Axie ecosystem. The program is poised to support the Axie Infinity community and support its growth and expansion.
The Builders Program was launched in January this year. The program is like a testing phase used for games created by the community. It is also used to assess the experiences that users will have when playing games within the ecosystem.
The Builders Program seeks to reward developers that strengthen the ability of the Axie Infinity community to develop gaming experiences and tools. The platform is becoming popular because it incentivizes developers that remain active within the Axie Infinity ecosystem.
Builders Program will offer immense opportunities
The Builders Program provides a wide range of incentives to the developers within the platform. The selected teams will get at least $10,000 worth of AXS tokens in grants. The money will go towards funding their project.
The teams will also get exclusive access to strategic partnerships and receive guidance in various processes such as game design, product development, and engineering. The selected projects will also get rewards for their projects through the brand’s revenue-share model.
The Builders Program is already attracting a wide range of projects. Some projects already been onboarded include Inter the Dungeon and a push-your-luck dungeon crawl. These projects will offer the right standards needed to share the style, identity, and prestige between projects. Some of these games will feature challenges, and each one will have unique abilities that can be shared.
The statement from Sky Mavis said that “The Builders Program is one of many initiatives that will unlock more enjoyment and utility for your Axies, in this case from the community built experiences.”
The company also said it would create new partnerships with leading gaming studios to create new experiences on the Ronin network and Axie Infinity. The company further said that it would work with more teams in the future and continue building in the future.
To learn more visit our Investing in Axie Infinity guide.
Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN, Capital.com, Bitcoinist, and NewsBTC.